Law360, New York (August 13, 2014, 10:14 AM EDT) -- Economically, minority shareholdings — ranging from minimal passive investments to strategic control — are a significant phenomenon. Globally, however there is a wide variety of approaches to antitrust regulation of these types of transactions: While antitrust agencies in Germany, Austria and a number of other countries require prior notification for acquisitions of minority shareholdings of 25 percent and above, others look at additional factors such as the rights gained through the minority shareholding (for example, the U.K.'s "material influence" test examines a combination of factors in ascertaining whether or not a particular minority acquisition is covered). In the U.S., Section 7 of the Clayton Act affords partial equity investors a safe harbor in the form of the "investment only" exception....